Morgan Stanley analyst Joseph Moore maintained a Buy rating on Nvidia yesterday and set a price target of $210.00.
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Joseph Moore’s rating is based on Nvidia’s strategic partnership with OpenAI, which is set to significantly enhance Nvidia’s position in the AI compute market. The deal involves deploying 10 gigawatts of compute capacity over several years, positioning Nvidia as OpenAI’s primary compute partner. This substantial investment, potentially generating $350-400 billion in revenue for Nvidia, underscores the company’s pivotal role in the AI sector.
Furthermore, Nvidia’s commitment to invest up to $100 billion into OpenAI equity as each gigawatt is deployed highlights the long-term growth potential and strategic importance of this partnership. While the scale of the investment is part of a broader bullish outlook, it emphasizes Nvidia’s leadership in the competitive landscape of AI development. This combination of factors contributes to Moore’s Buy rating for Nvidia’s stock.
In another report released today, Bernstein also maintained a Buy rating on the stock with a $225.00 price target.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVDA in relation to earlier this year.